Reducing LTCG & STCG @ 15% income by minimum exemption limit

1618 views 1 replies

If the minimum exemption limit is not completely exhausted by the assessee (after considering section 80C deductions), tax laws allow reducing long term capital gains if any (and short term gains taxed at 15%) by the unexhausted exemption limit. This is available to residents (ROR) and not available to non-residents (NR).

My question is how to treat this for a RBNOR? Can a RBNOR assessee also take advantage of this provision and reduse her LTCG liability by the unavailed min exemption limit?

Hope my question is clear, feel free to cross question if you did not understand the question fully.

Thanks :)

Replies (1)

Diwakar,

as per sec 2 (30) for the purpose of international transactions 'Resident but not ordinary resident' is considered as "Non-Resident"..

sec 6 defines both ROR & RBNOR, and they r two independent categories..

sec 111A & 112 clearly says set off of capital gain from unexhausted basic limit is applicable only for Resident..

so it s applicable for ROR only..

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details